Ethereum Co-founder: We Underestimated How Long PoS Would Take to Finish Vitalik Buterin, Ethereum co-founder, recently spoke about the...
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Vitalik Buterin published the Ethereum whitepaper in November 2013 and in 2015 Ethereum was launched. It’s the leading programmable blockchain in the world, meaning that developers can use it to build different types of new applications.
Ethereum’s native cryptocurrency is called Ether (ETH), which is the second most popular cryptocurrency after Bitcoin.
Like Bitcoin’s supply, the supply of ETH isn’t controlled by any government or company, meaning it is decentralized and scarce. Ether is used to make payments, as a store of value, or as collateral.
In the Ethereum blockchain, miners work to earn Ether. Besides being a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.
Ethereum can be used to decentralized centralized services. It can also be used to build Decentralized Autonomous Organizations (DAO) – completely autonomous, decentralized organization with no single leader.
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Read moreCryptocurrencies have many selling points and one of them is blockchain technology. Ethereum is written in Turing-complete code language and any script can run on Ethereum. Ethereum’s blockchain processes transactions in 12 seconds, as opposed to Bitcoin’s 20 minutes, making its blockchain the best network to support any business or program.
In February 2017, lots of major companies , as well as Fortune 500s decided to collaborate on furthering the Ethereum network technology, incorporating it into their businesses. EEA includes companies like Intel, Microsoft, JPMorgan, BP, and Thomson Reuters.
Banks look kindly on the Ethereum network. Bank of America is the first financial institution to work with the Ethereum blockchain. Company’s premiered Ethereum-based app will help customers in securing their transactions and has an objective to speed up the mainstream adoption of Ethereum technology.
Ethereum was originally launched as an ICO in 2014. It was the 2nd and took place during 42 days.
Initially, it was as 2000 ETH/BTC (BTC was around $600 at the time), thus, around $0.3 per ETH. It then linearly declined as time went on to 1337 ETH/BTC, or around $0.45.
The Ethereum ICO collected 31,500 Bitcoins, worth approximately $18,400,000 at the time. The Ethereum network went live on July 30th, 2015 with 72 million Ethereum premined.
In the starting period, the highest price that ETH set was $2.83. However, in the beginning of 2017 it started increasing reaching almost $400 in June.
After that, drastically dropping in price and reaching around $0.04, Ethereum started the way to its highest price and set $1,432.88 in 13 January.
Currently,
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